Nextracker (Nasdaq: NXT), a leading solar technology platform provider, today announced it has acquired U.S.-based Bentek Corporation, an industry pioneer and manufacturer of electrical infrastructure used in all types of solar power plants. The all-cash transaction of approximately $78 million including future contingent earnout consideration combines Bentek’s engineered, pre-assembled eBOS solutions with Nextracker’s world class solar tracker platform, providing customers streamlined procurement and project logistics from a single source. The eBOS products will be offered as standalone, industry-compatible components for both trackers and fixed tilt systems, as well as in formats optimized for use in integrated NX Horizon™ system solutions. Bentek’s U.S. fabrication footprint further enhances Nextracker’s strong domestic supply chain position. This acquisition continues Nextracker’s strategy of incorporating complementary technologies into the company’s market-leading tracker platform to accelerate solar power plant construction, increase performance, and enhance long-term reliability.
eBOS technology components comprise the electrical infrastructure used in all utility-scale solar projects to collect and transport electricity from solar panels to power conditioning systems throughout the entire solar field. Delivering industry-proven products for over 15 years, Bentek’s patented, U.S.-manufactured products have demonstrated exceptional field reliability, attributable to solid design and fabrication as well as rigorous inspection and testing protocols.
“It is fantastic to join forces with Bentek, expanding the Nextracker platform with exceptional eBOS products and expertise,” said Howard Wenger, President of Nextracker. “Together, we can offer fully engineered, integrated solutions that can help accelerate procurement and construction timelines and reduce installed cost, all backed by the trusted Nextracker brand. We believe that an integrated design approach can unlock synergies between the mechanical and electrical subsystems, driving enhanced customer value and creating a new and powerful solar power plant platform business model.”
A Global and Regional Analysis
Download free sample pages“SOLV is thrilled that Nextracker has entered eBOS manufacturing; we have been encouraging them to make this move to bring their operational excellence and financial strength to electrical products supporting solar power plants,” said George Hershman, CEO of SOLV Energy. “Bentek was a great choice for Nextracker; SOLV has been using their reliable and high-quality products for many years and is a current customer.”
“Today is an exciting day for Nextracker and for U.S. solar manufacturing,” said Dan Shugar, founder and CEO of Nextracker. “In utility-scale solar, eBOS quality and reliability are critical to system uptime and long-term ROI. Bentek is a proven eBOS innovator and pioneer with several families of IP and issued patents. Nextracker’s financial resources, technology acumen, and supply chain expertise will enable Bentek to rapidly scale,” said Shugar.
